"...The company bought back 11,05,19,266 equity shares at an average price of Rs 747.38 per equity share; and deployed an amount of Rs 82,59,99,99,430.03 deploying 99.999999 per cent of the maximum buyback size (excluding transaction costs)...till August 26," Infosys said in a regulatory filing on late Monday night.

In a note, ICICI Securities said despite talk of a slowdown, macroeconomic factors have not adversely affected the decision making process of its clients.

In a meeting with commerce and industry minister Piyush Goyal late on Wednesday, the top executives of these companies said market access in China is a nagging issue, thanks to various non-tariff barriers employed by Beijing.

Most analysts have raised their 12-month price target for the stock, hoping for increased payouts to shareholders. Analysts, however, say rising employee attrition remains a key risks, given the strong demand. Citibank said the valuation gap between Infosys and TCS would narrow further.

At 09:37 am, the stock was trading 4.29 per cent higher at Rs 758 apiece on the BSE. Other IT stocks, too, gained in the trade lifting the Nifty IT index 1.52 per cent higher at 15,459 levels.

“Effective from FY20, the company expects to return around 85 per cent of the free cash flow cumulatively over a period of five years through a combination of semi-annual dividends or buybacks," the firm said in a statement.

The facility will provide space for Infosys and its clients to ideate, collaborate and innovate together by combining design and the latest technology offerings, including artificial intelligence, augmented reality/virtual reality, Internet of Things and 5G, Infosys said in a statement.

In March, the country's second largest IT services firm had said it will acquire 75 per cent stake in Stater for 127.5 million euros (about Rs 989 crore). ABN AMRO continues to hold the remaining 25 per cent.

Chief Operating Officer and Whole-time Director UB Pravin Rao will get shares worth Rs 4 crore. In all, 50 million shares will be allocated to employees, subject to shareholders’ approval, under the initiative called ‘Infosys Expanded Stock Ownership Program 2019’.